A Look at the 12Z GFS OP Forecast for ARG/BRZ 10-Day Rainfall
The 12Z GFS OP indicated a generally drier/less wet forecast the next 10 days for northeast Argentina and southeast Brazil.
CBOT NASS Reports Bullish on Soybeans and Corn; Market to Recover into October WASDE Report
** AgResource Midday CBOT Commentary and Crop Analysis: ** Private buyer Chinese pricing of US soybeans off the PNW for December/ January shipment. Estimates of new US soybean sales to China range from 750,000-1.0 MMTs. China issued 0% import quotas for upwards of 1.8 MMTs according to commercial sources on Monday. Look for sales confirmation…
Sudden Warming In The Equatorial East Pacific Last Week
Weekly diagnostics pointing toward future ENSO phase continue to oscillate indicating possible La Nina earlier this month and now a warmer trend in late September.
Next AgResource Weekly Newsletter Published on Wed, Oct 2
Due to the release of the USDA’s Small Grains Summary and Quarterly Stocks reports on Monday, the next edition of the AgResource Weekly Newsletter will be published on Wednesday, October 2nd .
Over Ninety Percent of Brazil’s Soybean Export Commitments Booked.
Summary: Brazil shipped 717,000 MT of soybeans last week. That’s down from the previous week’s 1.25 MMT and 650,000 MT less than a year ago. Argentina exported 466,000 MT and ARC expects US inspections to be around 725,000 MT. In the September WASDE, the USDA left their projection for Brazil’s exports unchanged at 69.0 MMT…
